Nigeria LNG Limited (NLNG) took the Final Investment Decision (FID) for its Train 7 Project, which can improve its manufacturing by 35% and its competitiveness within the world LNG market. The LNG facility is situated on Bonny Island, close to Port Harcourt, on the southern fringe of Rivers State within the Niger Delta area of Nigeria.
This choice permits the enlargement to extend the capability of NLNG’s six-train plant from the extant 22 Million Tonnes Per Annum (MTPA) to 30 MTPA, with the award of contracts for the engineering, procurement and development actions to observe the closure of financial institution and Export Credit Agency (ECA) financing, and the finalization of some key supporting industrial agreements anticipated in early 2020. The actualisation of the Train 7 Project comes as NLNG celebrates 30 years of its incorporation and 20 years of secure and dependable operations since exporting its first LNG cargo in 1999.
NLNG is an integrated Joint-Venture owned by 4 Shareholders, particularly, the Federal Government of Nigeria, represented by Nigerian National Petroleum Corporation (49%), Shell Gas B.V. (25.6%), Total Gaz Electricite Holdings France (15%), and Eni International (10.four%).
According to Tony Attah, MD/CEO of NLNG, “Train 7 is the crux of a development agenda which can make sure the Company’s place because the fifth main provider of worldwide LNG is maintained, growing worth to its Shareholders and different stakeholders, in addition to additional decreasing the gasoline that may in any other case have been flared, in fulfilment of its imaginative and prescient of ‘being a worldwide firm, serving to to construct a greater Nigeria’”.
The Company additional remarked that the Project upon completion will help the Federal Government’s drive to diversify its income portfolio and generate extra income from Nigeria’s confirmed gasoline reserves of about 200 Trillion Cubic Feet (Tcf).
The development interval after FID will final roughly 5 years with first LNG rundown anticipated in 2024.
The submit NNPC AND PARTNERS TO EXPAND NLNG FACILITY IN NIGERIA appeared first on Energy Global News.